Northern Beaches Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2025, Northern Beaches* (which in this report includes: Rural View, Bucasia, Eimeo, Dolphin Heads, Blacks Beach, Nindaroo, Slade Point, Richmond and Andergrove) recorded a median house price of $630,000 and a median unit price of $355,000. This represents an annual (Q1 2024 –Q1 2025) price growth of 28.2% for houses and a slight softening of -1.1% for units. Comparing Q1 2024 and Q1 2025, sales declined by -33.5% for houses and -4.7% for units. There is an undersupply of houses, which has created a buffer against higher interest rates, seen in continued price growth. Thus, now is an ideal time for owners to transact. With very little ready-to-sell dwelling planned in the pipeline, buyers need to act fast.
CHANGE FROM LAST
YEAR
Mackay Local Council will see approx. $360.4M of new projects commencing construction in 2025. Residential $33.3M Commercial $105.2M
HALF YEAR
Mixed-Use $138.2M
HOUSE SALE S
Infrastructure $55.6M
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
A key mixed-use project is Bluewater Quay Residences Mackay ($30.0M), to deliver 2x10-storey residential towers comprising of 60 apartments and 4 retail tenancies. There are several commercial and mixed-use projects planned, which will improve services.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Key pure residential projects planned for construction in 2025 are:
$ MARKET CONDITIONS MEDIAN PRICE Q1 2025
$630K
MEDIAN PRICE Q1 2025
$650K
SALES
$355K
AVERAGE DAYS ON MARKET Q1 2025
25
40
HOUSE
U N I T
RENTALS
$480K
Industrial $28.2M
•
Kerrisdale Estate Stages 5C, 6A, 6B, 7 & 8 ($5.7M, 127 Lots)
•
26 Sneyd Street (5 Townhouses)
•
65 Shakespeare Street (14 Units)
These projects are primarily set to deliver units and townhouses, which will not be enough to satisfy current and future demand. Land lots take time to develop (into a house), thus a long-term strategy. This suggests the existing undersupply will remain, which will push up the price further.
AVERAGE DAYS ON MARKET Q1 2025
19
16
HOUSE
U N I T
59 Units/ Apartments
10 Townhouses
1 Dwellings
503 Lots